News & Politics

Cuomo Subpoenas Merrill Lynch Bonus Bandits

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The financial crisis has nearly exhausted our sense of outrage. When we first heard about the ridiculous bonuses Merrill Lynch paid out just before it collapsed into the arms of Bank of America — which, as BoA is TARP-funded, amounted to a bailout — we were shocked and angry, but now we just go around shaking our fist at every bank we see. Andrew Cuomo has been more persistent and focused, though, dragging former Merrill CEO John Thain to his office a couple of times for questions. Today it looks as if Cuomo has subpoenaed some of the bright folks who got those multibillion-dollar bonuses. The thought of manicured bankers, who probably think themselves justifiedly wealthy and the rest of us suckers, sweating under cross-examination will brighten the remainder of our day. Image (cc) Shiny Things.